VisaV

VisaV

Revenue: is the business selling more than it used to?

$40.0B+11% YoYFY 2025

→Revenue reached $40.0B in 2025, compounding +11% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $43.0B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

Net income: how much of that revenue becomes profit?

$20.1B+2% YoYFY 2025

→Net income was $20.1B in 2025, compounding +10% a year over three years. Trailing twelve-month profit stands at $22.2B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

How fast is it growing, year by year?

+11.3%revenue growth, FY 2025

→Revenue grew +11% in 2025 against a five-year average of +13%. Earnings grew more slowly (+2%), so costs are absorbing part of the growth.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

Free cash flow: what is left in real cash after everything?

$21.6B+15% YoYFY 2025

→Free cash flow was $21.6B in 2025, compounding +6% a year since 2022. That is the most cash the business has ever thrown off in a year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

How much of every sales dollar ends up as free cash?

→54 cents of every sales dollar became free cash in 2025, down 7 points since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is capital spending, at 4% of revenue (stock compensation 2%).

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in 3 of the last 5 years, most recently +2% against +11%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin compressed 4 points to 60% since 2022. After everything, 50 cents of each sales dollar reaches net profit. V doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

What does it earn on the money it uses?

→ROE of 62% sits well above ROCE of 37%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

Could it handle its debt if things went wrong?

→Debt of $24.0B sits against $12.4B of cash, or 0.7x shareholders' equity. Earnings cover the interest bill 42 times over, so the debt is comfortably serviced.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

Is the company's own capital growing?

→The company's own capital shrank from $39.7B in 2023 to $35.7B (-10%). Buybacks or losses are drawing the buffer down - the distinction matters.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

How much goes back, and how much leaks out as stock comp?

→Shareholders received $18.3B in buybacks and $4.6B in dividends in 2025. Stock compensation issued $897M of new shares in the same year, offsetting 4% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

Does V earn more on its capital than that capital costs?

→V earns 36.7% on the capital it employs, well above the 10% most investors treat as the cost of capital. It was 28.5% in 2022, so the trend is up, and the pace is picking up.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31

VisaV

Are the people running it buying or selling?

→Insiders sold $77M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 42 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31